Recently, the Royal Bank of Scotland tried to sell off its Pakistani unit, but the move did not garner any results, but investors, it seems, do not have a problem with this and continue to be more optimistic towards the bank's shares, as has been revealed in an upbeat note that was shared by an analyst recently.
MCB Bank had agreed to purchase RBS Pakistan in an $87 Million deal, but the sale was subject to regulatory approval which could not be attained and it fell through.
But with Exane BNP Paribas moving its recommendation of the bank's shares from "neutral" to "outperform", the stock has managed to jump by 1.51 pence to 30.71 pence.
"We recognize that, for many investors, RBS had become a 'stock to avoid' almost irrespective of price. In the summer of 2009 it also became remarkably expensive. However, with the halving of the share price over the past four months and an expectation that, over the next few quarters, some early progress in terms of asset disposals will be achieved", wrote Exane analyst Ian Gordon in a note.
RBS has seen many changes over the past 2 years, and although more downs were recorded than ups, the bank seems to be going strong now.
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